According to the Legal Director Benchmarker survey, conducted by the Legal Week news service in conjunction with corporate law firm Pinsents, corporate counsel in the UK now feel that cost is more important than technical expertise when it comes to selecting legal advisers.
The poll of more than 100 in-house counsel at leading UK firms found that 30% employed cost as the main benchmark for judging existing counsel. 14% revealed that they valued technical expertise most, and 10% suggested that experience within the sector was their key evaluation criterion.
In addition, 20% of those questioned suggested that value for money was the most important factor when initially appointing legal advisers. However, technical expertise was cited by 28% of the counsel polled, placing it as the key concern when appointing a new law firm.
Explaining the increasing focus on the cost of legal advice for UK businesses, Xerox's legal chief, John Barrett observed that:
"Legal departments are constantly under pressure so there is always a strong monitoring of legal spend."
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